BUNKER PRICES: G20-VLSFO Index Drops to Six-Week Low

by Ship & Bunker News Team
Thursday February 23, 2023

Bunker fuel prices declined at most ports on Wednesday, with global VLSFO prices dropping for a seventh consecutive session to the lowest level in almost six weeks.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $9/mt to $641.50/mt on Wednesday, reaching the lowest point since January 11. The G20-HSFO Index slipped by $3.50/mt to $456.50/mt, while the G20-MGO Index declined by $7/mt to $925.50/mt.

ICE Brent crude futures lost $2.45bl to $80.60/bl on Wednesday.

VLSFO prices at the top ports had a negatve trend. At Singapore prices fell by $15/mt to $604.50/mt, at Rotterdam they slipped by $11.50/mt to $563/mt, at Fujairah they dropped by $7.50/mt to $607.50/mt and at Houston they declined by $8.50/mt to $619/mt.

On Thursday morning Brent futures were trading up by $0.66/bl at $81.26/bl as of 8:47 AM in London. In metric tonner terms that would amount to a $4.97/mt rise in bunker prices.